“Digital Starts with Data – Data Transformation across the Capital Market Value Chain”
Celent, the leading research, advisory and consulting firm on financial services technology, has conducted multiple surveys over time that uniformly conclude data is the chief concern for capital markets participants. Data is not only the top issue from a business perspective but also when looking at transformation projects with a regulatory, management, risk or financial objective.
These findings prompted Xceptor to commission an Impact Note to look more deeply into the issue. In the note, Brad J. Bailey, Research Director at Celent’s Capital Markets division, looks to answer three core questions:
- What do capital market firms want from their data?
- What are the benefits of data centricity in the front, middle and back office?
- What does the capital market data journey look like?
Andrew Kouloumbrides, CEO at Xceptor, said: “Digital transformation breaks down when the data is flawed or inaccessible. This is particularly true as we move further into machine learning and AI as a core component of the capital markets infrastructure. Taking a data-centric approach to digital transformation enables firms to create actionable opportunities and drive stronger ROI.”
By exploring the responses to the key questions above, the impact note outlines five key findings:
- The most effective digital transformation projects in capital markets firms emerge from data transformation projects.
- The highest value projects are driven by laser focus on the needs of the business, and ease in which senior management allows access to disparate groups and data.
- Properly designed, data transformation projects create a data platform and become essential to a variety of types of users from business leaders to data scientists, and from front office to back office.
- The process of getting data ready for a digital transformation is a key to its ultimate success.
- Electronic trading is driving increased demands for data insight across asset classes, but trade and other data breaks rates increase rapidly after the front office.
Brad Bailey, Research Director, Capital Markets, Celent, said: “The capital markets will be defined by digital transformation; the most successful firms will create insight infrastructures which start from data leverage. The roadblock to this goal is how to harness data from different sources and formats to generate meaningful insights in the most rapid time possible. Advanced data and machine learning can only be leveraged after the data is correct and robust. “
Xceptor and Celent will be co-hosting a webinar 16:00 BST 10th October to discuss the findings of this report in more detail, registration to follow. To download the whitepaper, please visit https://discover.xceptor.com/data-transformation-report